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Eliminating Immigration corruption is 'key focus'

Eliminating corruption at the Immigration Department is a “primary focus” for the government, a Cabinet minister said yesterday, adding that he “cannot stress how vital” this objective is.Elsworth Johnson, pictured, minister of financial services, tr

BISX-listed firms warn on dividends

Several BISX-listed companies have warned shareholders against “undue optimism” that dividend payments will continue given the need to preserve cash and liquidity during the COVID-19 pandemic. Both JS Johnson and Family Guardian cautioned investors

COVID-19's big economic rebuild - 2020 and beyond

In the first of a new three-part series, Hubert Edwards looks at the scale of the recovery task confronting The Bahamas in the immediate term and further out The Bahamian economy must be rebuilt following this global crisis. We deliberately avoid

Marinas 'chomping at bit' to lead re-opening

Bahamian marinas are “chomping at the bit” to re-open before the wider tourism industry in a bid to make multi-million dollar inroads into the lucrative yacht charter market, it was revealed yesterday.Dionisio D’Aguilar, minister of tourism and aviat

The last thing we need right now is austerity

Government should be wary of the voices out there that are using the Covid-19 pandemic to promote their own agendas by advocating fiscal austerity as a response to the crisis.

DIANE PHILLIPS: Is it time to bite the bullet and sell Bank of The Bahamas?

The time has come to sell Bank of The Bahamas.

Webshops economic vampires

As is commonly known, the public health crisis brought on by the COVID-19 pandemic has resulted in most of our economy being shut down.

Briland developer: Ex-manager cost me $2m

A Harbour Island developer says his former $21,000-per month project manager’s “negligence” in failing to obtain key permits has cost him more than $2m and delayed the project by ten months. Michael Wiener, principal of 4M Harbour Island Ltd, is bla

Grand Lucayan waiting on $20m Dorian claim

The Grand Lucayan has yet to receive its expected $20m Hurricane Dorian insurance claim payout even though the property’s sale to the Royal Caribbean/ITM joint venture was completed over two months ago. Michael Scott, chairman of Lucayan Renewal Hol

Global Ports guarantees capital

Nassau Cruise Port's ultimate parent has pledged to "guarantee" the success of its $130m bond issue by covering any capital shortfall that may exist when the offering closes at the end of this week.

Cruise port chief in 'guarantee' on bond's success

Nassau Cruise Port’s ultimate parent has pledged to “guarantee” the success of its $130m bond issue by covering any capital shortfall that may exist when the offering closes at the end of this week.Mehmet Kutman, Global Ports Holding’s chairman, told

The Vicious Cycle Of Lockdowns, Downgrades And Stimulus Cost

In the final of his three-part series, Hubert Edwards suggests how The Bahamas and other nations can blunt the impact of sovereign credit downgrades.

Restrictions give $300m foreign reserves 'buffer'

The Central Bank’s governor yesterday said measures imposed to restrict foreign currency outflows will create $300m in “buffers” to safeguard the external reserves and the fixed US dollar peg.John Rolle revealed that the regulator has suspended all a

Economy may contract by 'mid to upper teens'

The Bahamian economy may shrink by between 15-19 percent this year with a fully recovery of COVID-19 losses not occurring until 2022, the Central Bank’s governor warned yesterday.John Rolle, in a bleak near-term assessment of the country’s post-pande

'Worst ever mistake' for inflated reserves

The $2bn foreign exchange reserves are less healthy than they appear because of the Minnis administration’s “worst ever mistake”, a former Central Bank governor argued yesterday. James Smith, also a former finance minister, told Tribune Business tha

The vicious cycle of lockdowns, downgrades and stimulus cost

In the second of a three-part series, Hubert Edwards analyses the challenges confronting The Bahamas as it seeks to secure sufficient funding to ride-out the COVID-19 storm.

Insurer issues profits warning over COVID-19

Colina Holdings (Bahamas) has become the first BISX-listed company to issue a 2020 profits warning due to the COVID-19 pandemic’s impact. The parent of Colina Insurance Company, the life and health underwriter, told shareholders in footnotes to its

Bahamas financing need ‘close to’ $1bn

A Standard & Poor’s (S&P) analyst yesterday said The Bahamas will need “close to $1bn” to finance this year’s fiscal deficit while predicting “a strong economic recovery” in 2021 and 2022.

Private islands are 'hot like fire'

A Bahamian realtor yesterday said “the private island market has gone hot like fire” as a result of the COVID-19 pandemic, adding: “It’s social distancing at its finest.”Gavin Christie, CA Christie’s managing partner and broker, told a Business Unusu

NIB: 'No major shift' in managing finances

The National Insurance Board’s (NIB) director says the surge in COVID-19 related benefits claims has not caused “a major shift” in how the social security system manages its $1.7bn reserve fund. Dr Nicola Virgil-Rolle, pictured , said the social sec

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